Which of the following statement about depreciation is correct? The three factors to determine the depreciation expense are the depreciation base, the physical life, and the depreciation method. If the asset life is 7 years, the 150% declining balance rate is 28.6%. In year 1 of the asset life, the double declining balance method calculates depreciation by taking the ratex the asset's depreciable base. The sum of the years' digits depreciation methods will never cause book value to go below salvage value